HBAR Price Prediction: Hedera Hashgraph (HBAR) Rallies 11.5% After CPI Data, What's Next?

Over the past day, Hedera's price has risen nicely, moving up from its previous level of $0.28 to now trade at $0.335, marking an increase of over 11.5%.

Hedera (HBAR) price has seen a remarkable surge following the release of the US Consumer Price Index (CPI) data for December, which showed a rise to 2.9%. The HBAR price quickly ascended from a low of $0.3 to over $0.34 in just a few hours.

However, the price faced strong selloff pressure from Short-Term Holders (STHs), which led to a consolidation around the EMA20 trend line on the 1-hour chart. As of writing, the HBAR price trades at $0.335, showing a surge of over 10% in the last 24 hours.

The HBAR/USDT trading pair is encountering resistance at around $0.34, which could be a crucial level to watch. If the price drops below the EMA20 trend line on the 1-hour chart, the sellers might attempt to push it back down to $0.28 at the downtrend line.

On the other hand, the RSI level continues to trade above the midline at level 61, which might cause a retest of the resistance channel. If the price manages to hold above $0.35, it would favor the buyers. The trading pair could then increase to $0.4.

Short-term HBAR price prediction: According to BlockchainReporter, Hbar price might continue to face resistance around $0.35. If the price moves above that level, we might see a trade around $0.38 today.

Long-term HBAR price prediction: As per the current Hedera Hashgraph price prediction on Coincodex, the price of Hedera Hashgraph is expected to increase by 25.33% and reach $0.417329 by February 15, 2025. The technical indicators on Coincodex suggest a bullish sentiment, while the Fear & Greed Index indicates a level of 75, which represents ‘Greed’. Over the last 30 days, Hedera Hashgraph has had 14 out of 30 green days, with a price volatility of 5.25%. Based on these forecasts, Coincodex suggests that it is now a good time to buy Hedera Hashgraph.

How much is Hedera price today?

HBAR price is trading at $0.34 at the time of writing. The HBAR price has increased by over 10.8% in the last 24 hours.

What is the Hedera price prediction for January 16?

Throughout the day, the Hedera price might consolidate around $0.34. If it breaks above, we might see $0.38 today. On the downside, $0.28-$0.29 is the lower range.

Is Hedera a Good Buy Now?

According to long-term forecasts, the HBAR price might reach $0.41 by February 15. This makes HBAR price a good investment considering its monthly yield.